The Japanese Yen is showing strength at the beginning of the year. Let's take a look at some JPY-crosses.USD/JPY 4H Chart 1/5(click to enlarge) The USD/JPY has been consolidating in December, but appeared to have revived the uptrend during the second half of the month. However, it stalled at 120.85 and has not been able to break this resistance in the past couple of weeks. As we begin the first full week of the new year, USD/JPY is again retreating, poised to retest a recent low around 119, with risk of falling further toward the December lows between 115 and 116. A break above 120.85 will be needed now to revive the uptrend and expose the 121.84 2014-high, with risk of extending higher. EUR/JPY 1/5 4H Chart(click to enlarge) The euro was already falling against the recent strength in JPY. The 4H chart shows that in December, EUR/JPY has been in a persistent bearish correction and is starting this week pushing lower. It is now poised to push towards the 140-141 area, which includes a previous resistance pivot and the 200-day SMA. The daily RSI will also be in oversold condition by that time. On a pullback, we should see resistance around 145.GBP/JPY 1/5 4H Chart(click to enlarge) We saw the GBP/JPY turn a possible bullish continuation into more bearish correction at the end of the year. Since the start of 2015, GBP/JPY has been sliding sharply and is now poised to test and perhaps break the December low at 181.58. This second leg to December's first leg of bearish correction has the 179-180 area in sight. An extension to this area will complete an ABC correction scenario and push GBP/JPY against a previous resistance area and the 100-day SMA. Meanwhile, the RSI would likely be in oversold condition with price in this range. In the short-term, a pullback should see resistance in the 184-185 area.